Demand in Economics

• Shift in demand means that the quantity demanded will change as the price changes.
• The law of demand States that all other things being equal, the quantity demanded of a good or service will increase as the price increases.
• Demand curve is a graph that shows the relationship between the price of a good and the quantity demanded.
• Demand is defined as the quantity of a good or service that consumers are willing and able to buy at a given price
• A demand schedule is a table that shows the quantity demanded at each price level.

  The two types of demand schedule are individual and market demand schedule
• An individual demand schedule is a table that shows the quantity of a good that an individual is willing and able to buy at different prices.